The problem with using NDB, Scottrade, E*Trade, and Datek is that their trading commissions are too high. If you make 5 or more trades during the year, you already spend more than 2% of the $2000 contribution on commissions.

If you are truly a LTBM, I would suggest using BuyAndHold (www.buyandhold.com). You must participate in their EZ-Vest program to waive their account maintenance fee, but if you plan on making more than 4 trades a year, the cost of using Buy & Hold vs. the next lowest priced reputable online brokerage (Ameritrade) is less. I wouldn't suggest Ameritrade tho, they are one of the most poorly reviewed online discount brokers.

If you plan on trading more often, then I would suggest Datek. Datek is the best broker for active online trading (that is not direct access). Firstrade may sound appealing from a money standpoint, but whether they can trusted is a different matter. Keep in mind that trading often can be hazardous to accumulating wealth in an IRA...I would suggest applying a LTBH philosophy. A

Also with Buy & Hold, you can transfer money electronically from your checking account at your local bank to your Buy & Hold account for free and for next business day use. And money not invested in the market is invested in a money market fund, which is not so for Datek.

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